Debt Collection Letter

byMarisaonJune 10, 2014

Debt collection letter is written in a formal manner and can be used to notify the debtor regarding the due payment. You can choose this prior to filing a lawsuit. It covers all the relevant information including the amount, installments, dates or the other important facts. It acts an official reminder of payment. Though it is not a legal notice, it holds the notion of formal notice.

It suggests all the possible ways to settle the outstanding payment in pleasant manner. This letter also carries a message of warning about the after results in case of nonpayment. It notifies the debtor in very effective and serious tone but it never turns as threatening. You can also find the sample of debt collection letter to make your letter more effective.

Sample Debt Collection Letter

From

Ms. Elaina Granger

Customer Relation Manager

Virtue Finance Solutions

45 Liana Square

California XXX-0000

To

Mr. Varner Lanner

6/29 Beethoven Apartments

Wisdom Streets

California XXX-0000

Date: 10 Jun, 2014

Subject:Debt Collection Letter

Dear Mr. Lanner,

I am writing this with intention to inform you about the legal process we are planning to start against you. We have signed the pact of lender and borrower on 12 November 2013. As per the terms and condition of payment you are liable to make the payment of installment every month.

As you are already aware with the fact, you have stopped the payment installment of the borrowed funds after November 2013. We have sent you many notices about this matter but we have failed to receive the reply of any of them. The legal adviser of Virtue Finance Solutions has advised us to notify you the last time with this letter before legal proceedings.

You are request the last time to clear all the pending installments by the end of February, 2014.

We are forced to file a legal suit against you in court if you will not settle this amount within the given time frame. If you are agreed to make the payment please contact us immediately.

Sincerely,

Elaina Granger

Customer Relation Manager

Virtue Finance Solutions

Given Below are a few collection letter samples for a clearer Idea.

Final Notice Collection LetterFinal notice collection letter serves as a last formal notice regarding the due payment. This letter is usually sent after the two or three collection reminder letters.